Word: goldings
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...Gold's gyrations are the Dow Jones index of anxiety
...practical purposes, the world has been off the gold-exchange standard for nearly eight years. When it comes to transactions among central banks, mankind's most treasured possession is supposed to have no more relevance than the Mongolian tughrik. So much for the official view of gold's value. Out there in the real world, the metal that Economist John Maynard Keynes once Wrote off as a "barbarous relic" has never shone more brightly...
From Bangkok to Bangor, investors are buying up gold−and paying record prices for it. Scarcely a week goes by without a fresh blast of bad news to push up the value of the mystic metal that thrives on crisis. Viet Nam's invasion of Cambodia, which began late in December, was one such event, but gold's biggest boost lately has been the winter-long turmoil in Iran. As investors have grown fearful of another energy crunch, the price has surged from under $200 per oz. in mid-autumn to a record $254 two weeks...
...climb has been helped by reports that South Africa, until recently a major consumer of Iranian oil, has negotiated a long-term deal to buy alternative supplies from Saudi Arabia in return for gold. Since South Africa is the world's largest gold producer and Saudi Arabia is the world's largest oil exporter, such a deal would divert much gold away from world commerce and into Saudi vaults, forcing up the price of the metal still more...
With the bullion markets boiling since before Christmas, a cooling-off period has long been overdue, and investors have been cashing in on their eye-popping profits. Last week prices closed at $247, but few believed that the run-up was over. Traders were even talking of gold's next new plateau, and gold enthusiasts were hoping that it would crack...